TikTok to Overtake Twitter, Snapchat ad Share this year

The exponential growth of the popular short video platform, TikTok has startled social media giant, Meta Incorporation as the China-based TikTok is likely to overtake the global advertising share of Twitter and Snapchat this year. A couple of days ago, a report by The Guardian stated that by the year 2024, TikTok will catch up with the popular video streaming platform, YouTube as it is expected to register a profit of $23.6 billion in ad revenue.

The report said: "Last year, it overtook the global ad take of Snapchat.” TikTok is anticipated to increase its global worldwide ad revenues 3x to $11.6 billion this year, The combined ad revenue of Twitter and Snapchat is expected to be $10.44 billion. According to data.ai, on average, a TikTok user spent around 19.6 hours per month on the app last year, which is almost equal to Meta which is witnessing a stunted growth recently and has become obsolete among the Gen Z and millennials.

Facebook still has 2.9 billion monthly active users and Instagram has almost 2 billion active users. Last year it clocked a revenue of $118 billion, still, it is concerned about the incredible growth of TikTok.